Interswitch Boss Harps on Business Unit Economics

As Nigeria continues to attract global attention against the odds as a destination, which cannot be ignored for investment and business opportunities, the 2024 edition of the “Doing Business in Nigeria Conference,” which held in Lagos recently, served as a pivotal event for entrepreneurs, investors, and business leaders seeking to tap into the country’s vibrant business landscape. 

Delivering a keynote on the theme, “Doing Business in Nigeria: The Opportunities, Challenges and Realities,” Interswitch Group Founder and Chief Executive Officer, Mitchell Elegbe set the tone for deliberations at the conference, sharing insights and perspectives hinged on over 22 years operating in Nigeria, from where the company has expanded into other African markets, being in the driver’s seat of one of Africa’s most influential digital technology businesses.

Elegbe walked participants through the dynamic trajectory of Interswitch’s business operations, starting from 2002 when key infrastructural elements such as power and telecoms were at a nascent stage. The Interswitch Founder acknowledged that Nigeria is probably not one of the easiest markets in the world to do business, however stressing that compelling business opportunities exist only where there are challenges, pointing out that regardless of the challenges and constraints in the local operating environment, some particular industries and sectors have consistently bucked the trend and shown great promise. 

Other keynotes were delivered by  the Chief Executive Officer, Stanbic IBTC Bank, Wole Adeniyi, who was represented by the Executive Director for Personal and Private Banking, Olu Delano,  as well as the Chief Executive, BMG Seven Limited, Binta Max-Gbinije, each bringing unique perspectives and expertise to the discussions. 

The conference agenda was designed to address key themes and topics relevant to doing business in Nigeria, with sessions covering market entry strategies, regulatory compliance, risk management, investment incentives, innovation, and sustainability, among other salient themes.